Fitch Ratings Shares Its Opinion About Naira Performance Against US Dollar …C0NTINUE READING HERE >>>
Fitch Ratings has expressed caution about the stability of Nigeria’s foreign exchange market, contrasting the International Monetary Fund’s (IMF) view that recent CBN measures, including interest rate hikes, have helped stabilize the naira.Nigeria’s gross foreign exchange reserves rose to $39 billion in mid-October, attributed to remittances, improved trade balance, and official disbursements, although Fitch cautioned that a significant portion is tied up in FX swaps with local…
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